Business
TRADING UPDATE - Quarter to 30 September 2024
TRADING UPDATE - Quarter to 30 September 2024.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n\nCity of London Investment Group PLC\n21 October 2024\n \n CITY OF LONDON INVESTMENT GROUP PLC\n(\"City of London\" or \"the Group\" or \"the Company\" or \"CLIG\")\nTRADING UPDATE for the quarter to 30 September 2024\n \nCity of London (LSE: CLIG), a leading specialist asset management group offering a range of institutional and retail products investing primarily in closed-end funds, provides a trading update for its quarter ended 30 September 2024. The numbers that follow are unaudited.\n \nFunds under Management (FuM) were $10.7 billion at 30 September 2024, an increase of 4.8% as compared to $10.2 billion at 30 June 2024. A breakdown by strategy follows:\n \n\n\n\n\n \n\n\n \n\n\nFuM ($ million)\n\n\n \n\n\n\n\n \n\n\n \n\n\nJun-24\nActual\n\n\nNet flows\n\n\nMarket & investment performance\n\n\nSep-24\n(estimate)\n \n\n\n \n\n\n\n\nEM\n\n\n \n\n\n 3,568\n\n\n46\n\n\n292\n\n\n3,907\n\n\n \n\n\n\n\nKIM\n\n\n \n\n\n 3,924\n\n\n(73)\n\n\n194\n\n\n4,045\n\n\n \n\n\n\n\nINTL\n\n\n \n\n\n 2,394\n\n\n(186)\n\n\n178\n\n\n2,386\n\n\n \n\n\n\n\nOV\n\n\n \n\n\n 251\n\n\n18\n\n\n21\n\n\n290\n\n\n \n\n\n\n\nOther*\n\n\n \n\n\n 104\n\n\n-\n\n\n2\n\n\n105\n\n\n \n\n\n\n\n \n\n\n \n\n\n10,241\n\n\n(195)\n\n\n687\n\n\n10,733\n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n* Includes Frontier and alternatives\n \nIM Performance\n \nInvestment performance calendar year-to-date remains strong with the majority of CLIM & KIM core strategies outperforming. Over the most recent quarter, Opportunistic Value outperformed its benchmark while the other CLIM strategies underperformed. KIM's municipal bond, US equity, and international equity strategies outperformed whilst fixed income, conservative balanced, growth balanced, and SPAC strategies underperformed versus benchmarks over the quarter.\n \nFlows\n \nEmerging Market net inflows of $46 million, on the back of a new $70 million account and a $20 million Listed Private Equity account, l...